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Home » Gate Articles » How technology serves the global economy

How technology serves the global economy


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Engineers are working at key positions in variedindustries and commercial organizations. For those engineers who areworking as a key part of the economy enjoy the same as this offeraccompanies- �    Challenging work-field�    Intellectuality�    Advantage to society�    Professional environment�    Ever-evolving thinkingForthose who are pursuing a career in engineering mirrors the knack of theperson in adding value by utilizing technological advances made indiverse fields. Engineering has made a major impact in our lives as thequalification and experience required for the same acts as a basis formany careers. Now-a-days people talk more about post-industrializedeconomies where providing services is tougher than manufacturing thegoods. This is where engineers step in to create a perfectly balancedeconomy. This does not allows people to ignore the certaintyof migration of some activities as part of the phenomenon known asglobalization. But the impression that "manufacturing and exporting ofproducts model is good whereas the export of job thing is bad" is totalwrong. As the nations across the globe open their doors for businessand trade and the boundaries are becoming less rigid, entrepreneurs arethinking on which activity should be kept within a region and what arethe activities which should be outsourced. Engineers fromacross the world are burning the mid-night oil to improve the processof organizational fluidity and to introduce a well-defined approach tosatisfy the demand from wherever it arises. Value creation is notfacing any constraint from across the globe and therefore informationengineering is improving the process of change. Engineers have found animportant place in the economy today where they evolve differentprocesses to increase the value of the overall process. This evolutionmay seem scary but can be quite effective, considering the followingfacts- First of all, the world is witnessing severalengineering activities and budding challenges such as increasing globalbusiness structures. Consider R&D of a products taking place at onelocation, for which the assemblies and parts are sourced from somefarther location and finally the manufacturing of the product takesplace at some other place. It is important to note here that the skillof engineer in designing information systems and constitutingoperational technology shows how this fits perfectly together. Thisalso depicts that the engineer is ready to face the challenges ofdealing with multi-location, multi-cultural affairs. Thenengineers are always in front of altering time into distinctive featureof product manufacturing process. The difference between the successand failure of a product depends on its speed to market. The success inthe allied field definitely requires high level of engineeringknowledge and expertise in operational systems, supply chain managementso as to get what is called "time compression."



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